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Income Tax Case Laws - Section: 54B

 

Income Tax

Cases for Section: 54B

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Showing 1 to 15 of 70 Records
 

2015 (2) TMI 572 - ITAT PANAJI

Income Tax Officer Versus Mr. Tome Hilitor Silvester De Oliveira

Capital gain on transfer of land used for agricultural purposes not to be charged in certain cases - whether CIT(A) erred in allowing the deduction U/S 54B without considering the basic condition of the said section “the assessee should have used the ......

2014 (12) TMI 301 - ITAT HYDERABAD

Income Tax Officer Versus Shri G. Raghavendra Rao, Hyderabad

Assessment of capital gain on sale of land at Maqta Mehaboobpet – Held that:- AO came to the conclusion that there is transfer of capital asset i.e. land admeasuring acre 1.235 guntas by assessee to MDPL by solely relying upon the agreement of sale-c ......

2014 (10) TMI 775 - ITAT DELHI

ACIT, Circle-II, Faridabad Versus Sh. Dinesh Verma, House of Taxman, 1A/121 NIT

Admission of additional evidence – Held that:- There was no infirmity in the order of CIT(A) in admitting the additional evidence - Revenue has not raised any ground challenging the additional ground admitted by CIT(A) - After an additional ground is ......

2014 (7) TMI 1003 - DELHI HIGH COURT

Commissioner of Income Tax-IV Versus Hotz Industries Ltd.

Revision u/s 263 - Disallowance u/s 14A – Held that:- Without pronouncing whether the figures given by the assessee were incorrect, the Commissioner recorded that this required verification from the records - This is impermissible and cannot be allow ......

2014 (6) TMI 494 - ITAT HYDERABAD

Sri Potla Nageswara Rao, Khammam Versus The DCIT, CC-4, Hyd.

Addition of LTCG – transfer / extinguishment of right - Joint property development agreement - Held that:- The land is a capital asset was transferred by the assessee to the developer during the AY 2003-04, for construction and it is enough if the as ......

2014 (6) TMI 376 - GUJARAT HIGH COURT

Deepakbhai Ramjibhai Patel Versus Income Tax Officer

Validity of notice u/s 148 of the Act - Mere change of opinion - Claim of exemption u/s 54B of the Act - Held that:- In the return filed by the assessee, the main claim was for exemption u/s 54B of the Act on sale of land – the proceeds of the sale o ......

2014 (4) TMI 707 - ITAT HYDERABAD

Sagi Kodanda Rama Raju, Hyderabad Versus ACIT, Circle 6(1), Hyderabad

Validity of re-opening of assessment u/s 147 of the Act – Held that:- CIT(A) rightly held that the AO has tangible material before initiating proceedings u/s 147 – AO obtained information u/s 133(6) and thereafter, he has initiated proceedings for re ......

2014 (4) TMI 470 - ITAT COCHIN

Assistant Commissioner of Income-tax Versus TG. Chandrakumar

Grant of deduction u/s 54B - CIT(A) granted deduction u/s 54B by holding that transfer took place on 17-03-2007 – Held that:- CIT(A) found that under Income-tax Act, there was a transfer on 17-03-2007 when physical possession of property was handed o ......

2014 (3) TMI 466 - ITAT AHMEDABAD

Income Tax Officer Versus Shri Arjundbhai Dolat Desai, (HUF)

Deletion of disallowance u/s 54B of the Act – Sale of non-agricultural plots - Held that:- The Revenue contended that the CIT(A) has erred in accepting the additional evidences furnished during the appellate stage without remanding the same to the AO ......

2014 (2) TMI 788 - ITAT AHMEDABAD

Haresh Kumar Govindbhai Patel, Prop. Memaganbhai Motiram Sons Versus The Income Tax Officer

Addition on account of Long Term Capital Gain on sale of immovable property – Held that:- CIT(A) was of the view that the facts namely that against the deduction u/s 54B, Assessee had only shown new purchase of land - the new asset purchased was a re ......

2014 (2) TMI 733 - ITAT INDORE

Income Tax Officer 5(1) Indore Versus Jaspal Singh Chadha

Deletion made under the head LTCG – Income from sale of land - agriculture land – Exemption u/s 10(37) of the Act allowed – Held that:- The Tribunal was therefore justified in holding that distance of 2 kms from the municipal limits of city of Khanna ......

2014 (1) TMI 1271 - ITAT VISAKHAPATNAM

GANTA VIJAYA LAKSHMI Versus INCOME TAX OFFICER

Entitlement for deduction u/s 54B and 54F of the Act – Investments made in the name of daughters – Capital gains - Held that:- The benefit of exemption u/s 54B and 54F could be given to an assessee only if the new property is purchased in his own nam ......

2014 (1) TMI 492 - PUNJAB & HARYANA HIGH COURT

Kewal Krishan Jain Versus Commissioner of Income Tax, Jalandhar and another

Power of CIT u/s 264 - Revision in favor of assessee - Held that:- Following Parekh Brothers v. Commissioner of Income Tax, Kerala-II Ernakulam and others, [1983 (8) TMI 17 - KERALA High Court] - Mere fact that the assessee had not raised a plea befo ......

2013 (12) TMI 1050 - ITAT HYDERABAD

Syed Nawab Hussain Versus Assistant Commissioner of Income-tax

Overriding title on property – Held that:- There is no material to show that the brothers and sisters of the forefathers having any title over the property - The assessees have not placed any document to show that the payments to whom the assessees h ......

2013 (12) TMI 194 - ITAT HYDERABAD

The ACIT, Circle-6(1), Hyderabad Versus N. Raghu Varma

Deduction u/s 54B – The land was continuously used by the assessee for agricultural purposes - The agricultural income from the said property has been declared by the assessee in his return of income - Held that:- The land was entered in the revenue ......

 
   
 
 
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